“Whatever the mind can conceive and believe, it can achieve.” – Napolean Hill
We’re still waiting on the Fed news coming Wednesday, where a likely quarter point rate increase is coming.
That is baked into the market, and the market seems ready to resume its strength.
Last month we had a quick dip, now this month looks to have the same.
You never know how things will act on Fed day but I am long biased and ready to make some buys if we move higher and we should be pretty sure of that by Wednesdays close or Thursday.
SPDR S&P 500 (NYSE:SPY) is poised to breakout now and the Fed rate hike may be the catalyst we need.
Or, we could continue to range trade between 244 and 242 or so.